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Bitwise CIO Says BTC Could Easily Hit $500K If Trump Administration Creates Bitcoin Reserve
In a recent interview, Bitwise’s Chief Investment Officer (CIO), Matt Hougan, made headlines by stating that Bitcoin could potentially reach as high as $500,000 if the Trump administration were to create a Strategic Bitcoin Reserve. The suggestion is significant and has sparked interest in the cryptocurrency community.
Hougan emphasized that such an event would be too substantial to ignore, which could lead governments to follow suit. This hypothetical scenario raises the possibility of a supply shock for Bitcoin, further fueling its growth.
It’s worth noting that Bitwise recently predicted that Bitcoin will reach $200,000 in 2025. Although, there are doubts surrounding the likelihood of creating such a Strategic Bitcoin Reserve, as Castle Island Ventures’ founding partner, Nic Carter, and Arthur Hayes have expressed skepticism about this happening.
The idea of governments setting up reserves for Bitcoin is an intriguing concept, especially given the recent focus on digital currencies and blockchain technology.
Source: coinpedia.org
